The New Zealand dollar rode along its 200-day moving average of 84.60 US cents as traders contemplated whether its 3.9% decrease last month was sufficient.
The kiwi traded at 84.60 US cents, down from Friday’s 84.44 US cents. The trade-weighted index ascended to 79.34, from Friday’s 79.26.
The currency has been declining since reaching its 88.35 US cents peak last month despite weakening commodity prices, break in interest rate hikes, escalated demand for the US dollar, and Reserve Bank of New Zealand’s intervention and threats.
The material has been provided by InstaForex Company – www.instaforex.com
The New Zealand dollar rode along its 200-day moving average of 84.60 US cents as traders contemplated whether its 3.9% decrease last month was sufficient.
The kiwi traded at 84.60 US cents, down from Friday’s 84.44 US cents. The trade-weighted index ascended to 79.34, from Friday’s 79.26.
The currency has been declining since reaching its 88.35 US cents peak last month despite weakening commodity prices, break in interest rate hikes, escalated demand for the US dollar, and Reserve Bank of New Zealand’s intervention and threats.
The material has been provided by InstaForex Company – www.instaforex.com
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